BP’s Original $37.5 Billion Charge for Deepwater Horizon Spill Not Enough?
BP (BP) and Transocean (RIG) are close to settling with the Justice Department for their roles in the largest oil spill in U.S. history, reports the Wall Street Journal. A former trial attorney tells the paper that BP could face $12 billion to $20 billion in fines and penalties stemming from the Deepwater Horizon disaster of April 2010.
If so, that could be more than BP put aside. The company took a $37.2 billion charge for spill-related costs, and so far it has spent about $30 billion. Here’s the stock since the disaster:
Article source: http://us.rd.yahoo.com/finance/external/forbes/rss/SIG=13paph0sd/*http://www.forbes.com/sites/ycharts/2012/07/03/bps-original-37-5-billion-charge-for-deepwater-horizon-spill-not-enough/?partner=yahootix
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